Ippon leads £10m investment in Midatech

Ippon, which primarily targets biotech, medical devices and care sector investments, provided £7.6m, with the remainder brought by existing investors.

The investment will be used to develop Midatech's core portfolio of product development programmes for diabetes and cancer, as it aims to commercialise these products through partnerships and licensing agreements.

The company will also look to license out its biocompatible gold-nanoparticles technology for non-medical application in diagnostics and imaging, and will also look to expanding into non-core fields such as cosmetics and electronics in order to create new revenue streams.

Company
Midatech focuses on the design, synthesis and manufacture of biocompatible gold nanoparticles, with a focus on healthcare applications including therapeutics, diagnostics and medical imaging.

Midatech's diabetes products are being developed and commercialised through MidaSol Therapeutics, a joint venture formed with MonoSol Rx, a specialist in film drug delivery. MidaSol's products include glucagon-like-peptide (GLP-1)-linked gold-nanoparticles for the treatment of Type 2 diabetes mellitus. Its lead product candidate, MidaForm insulin PharmaFilm, which uses insulin-linked gold-nanoparticles formulated into PharmaFilm, delivers insulin through the inside of a patient's cheek.

Established in 2000, Midatech is headquartered in Abingdon, UK, with manufacturing and R&D facilities in Bilbao, Spain; and Basel, Switzerland.

People
Jim Philips is CEO of Midatech. Pavlo Protopapa is the founder and managing partner of Ippon.

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• Topics
• Expansion
• UK / Ireland
• Healthcare
• United Kingdom